Bank of England Holds Interest Rate Amid Rising Inflation

The Bank of England is expected to keep interest rates unchanged at 3.75% on Thursday despite rising inflation in the United Kingdom.

Inflation has reached a five-month high due to the ongoing fallout from the Iran war, which has driven up fuel prices.

Economists predict that most members of the Monetary Policy Committee will vote to keep interest rates unchanged, waiting for evidence that higher inflation is affecting underlying prices and wages.